4 ms·
I believe if you elect to be a pass-through LLC (eligible for this rule change), you cannot pay yourself a salary in the same way as if you were a non pass-thro
by lend000 7y ago
I believe if you elect to be a pass-through LLC (eligible for this rule change), you cannot pay yourself a salary in the same way as if you were a non pass-through LLC or S-Corp. It isn't as easy to cheat the system as most people think, but there seem to be more opportunities to finagle things the more assets you own.
The fundamental way our tax code is broken is not loopholes, but the actual publicly known tax bracket rates. They should be higher for capital gains, the progressive rate graduation should be steeper, and 500k shouldn't be the highest tax bracket when there are people who make 10,000 times that in a year. It's unbelievable that this isn't the focus of the issue and people are instead harping on wealth taxes and loopholes.
- clairity 7y agoyes, please. sign me up for all of the above. let's get a fairer, more dynamic economy that discouraging rent-seeking and encourages risk-taking and innovation. wealth concentration is a symptom of a broken, plutocratic system, not a capitalistic one.
- joking 7y agoI would love that, how rent seekers leech the system is not fair.
- einpoklum 7y agoConcentration of wealth characterizes all Capitalist economies - limited concentration as a pre-condition, and an increasing degree of concentration as an ongoing phenomenon and consequence.
- clairity 7y agoyes, i should have been more specific that i meant the excess levels of concentration we see in many so-called capitalistic economies. edit: should also note that capitalism expects wealth concentration, but it's not a pre-condition.
- JamesBarney 7y agoS-corps are pass through entities.